Hi, I’m new to this and have a question about how pet insurance works. For example, if my vet bill is $200 and the deductible is $250, do I still file a claim? Or is it only worth filing if the bill is more than $250?
I’m also wondering if the deductible works as a total amount for the year. For example, if I spend $250 across several visits, does the insurance start covering bills after that? Sorry, I’m still trying to figure this out!
Yes, you should still file a claim. The $200 will count towards your $250 deductible, so you’d be at $200 out of $250. If you have another $200 bill later, $50 of that will go towards finishing the deductible. After that, the insurance will cover the rest of the bill (assuming it’s for something your plan covers).
You don’t need to hit the deductible all at once. It adds up in chunks until you reach it, and then the insurance kicks in and starts covering expenses.
@Jesse
Thank you so much for explaining that!
To add to the other comment, always make sure to file every valid claim. Unlike other insurance types, pet insurance doesn’t use your claims history to raise your premiums, so you’re not penalized for making claims.
Filing claims is also how you let the insurance company know you’re working towards your deductible. For example, if your first bill is $200, the insurance will note that you’re $200 into your $250 deductible. Then, when you file another $200 bill, $50 will go towards finishing the deductible, and the insurance will reimburse the remaining $150 (if your plan covers it).
Keep in mind that some plans only reimburse a percentage of costs after the deductible, so it’s good to check your policy details.
@Perry
This is exactly what I needed to know, thank you so much! Filing my claim now.